Destiny Media Revenues Up 21% From Q4

Q1 Shows Growth

DESTINY MEDIA TECHNOLOGIES had solid financial news to announce for the quarter ending NOVEMBER 30, 2011. Revenues of $1,124,617 reflect an increase of 21% over the previous quarter and 6% over the same quarter in the prior year.

Operating expenses grew 16% from the prior year to $1,109,240, reflecting a 15% increase in R&D spending and a 31% increase in G&A. This increase includes a $164,000 increase in litigation expenses to a total of approximately $270,000 for the quarter.

Litigation expenses are expected to decline significantly after trial in MARCH 2011. Net income for the quarter was $12,555.

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